Shoppers leave the Nordstrom store in Chicago, Illinois on May 26, 2021.
Scott Olson | Getty Images News | Getty Images
Companies that made headlines after checking the bell:
Nordstrom — After the quarterly results were announced, the share price of this department store chain fell by about 20%. Nordstrom reported earnings per share of 39 cents, well below analysts’ expectations of 56 cents. The company reports that labor costs have affected profits and sales, and its low-price division, Nordstrom Rack, has been working hard to return to pre-pandemic levels.
Gap-The apparel retailer’s share price fell by more than 15% after its third-quarter profit and revenue expectations fell short of expectations. Refinitiv’s data shows that the company also lowered its full-year revenue forecast from a 30% increase to 20%, while analysts expected a year-on-year growth of 28.4%.
Hewlett-Packard-The computer hardware company’s stock price rose about 6% after its quarterly results were announced. According to data from Refinitiv, HP reported earnings of 94 cents per share and revenue of 16.68 billion US dollars, which exceeded analysts’ expectations of 88 cents per share and revenue of 15.4 billion US dollars. It also raised its guidance for the first quarter to 99 cents per share to $1.05 per share, while analysts expected 94 cents per share.
VMware-Cloud computing company VMware’s stock price rose 1% after the company reported outstanding quarterly revenue and profit. VMware’s earnings per share were US$1.72, beating expectations by 18 cents, and revenue was US$3.19 billion, which was higher than the expected US$3.12 billion.
Autodesk-Although the most recent quarter’s revenue and profits have performed well, the software company’s stock price has fallen by more than 13%. Autodesk’s fourth-quarter earnings and revenue guidance was significantly lower than expected.
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